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Ohio Community Development Finance Fund, The
Columbus OHCDFI Awards for Ohio Community Development Finance Fund, The
NMTC (2009) - $50,000,000
The Ohio Community Development Finance Fund (Finance Fund) will invest its NMTC allocation in various types of community facilities, small businesses, manufacturing plants and retail establishments and initiatives across Ohio. All loans will be issued to businesses that meet high community impact criteria and fall within highly distressed census tracts and wherever possible will be combined with other Federal, State and local programs. The NMTC allocation will allow the Finance Fund to provide senior and highly leveraged subordinate debt products, as well as a participating cash flow loan targeted to start-up businesses. Ohio Community Development Finance Fund will offer deeply discounted interest rates, high loan to value ratios, low debt service coverage, extended amortization periods, and flexible credit standards.
NMTC (2008) - $20,000,000
The Ohio Community Development Finance Fund (Finance Fund) will provide senior and subordinate debt products across the state of Ohio, in both metropolitan and non-metropolitan census tracts. The focus will remain on both real estate and non-real estate businesses, with emphasis on the development and expansion of community facilities and start-up businesses. Loan product features will include discounted interest rates, loan-to-value ratios of up to 95 percent, debt service coverage of 1.05 to 1.0, extended amortization periods and flexible credit standards. All loans will be issued to businesses that fall within highly distressed census tracts and, wherever possible, will be leveraged with other federal, state and local subsidies.
NMTC (2006) - $25,000,000
The Ohio Community Development Finance Fund (Finance Fund) projects deploying its capital raised by the NMTC allocation in the form of senior and subordinated debt, focusing on community facilities, non-profit service centers and business throughout the state of Ohio for start-up operations and facility development or expansions. The NMTC allocation will enable the Finance Fund to increase its effect on Ohio"s economic environment by offering products that leverage and complement other private and public sector funds, spur development in under-invested neighborhoods, and bring opportunities to residents of Low-Income communities.
NMTC (2003) - $15,000,000
The Ohio Community Development Finance Fund (Finance Fund) projects deploying its capital raised by the NMTC allocation in the form of senior and subordinated debt, or through an interest rate saving program, to qualifying businesses and commercial revitalization, economic development, child care, Head Start, and other nonprofit facilities. The NMTC allocation will enable the Finance Fund to increase its effect on the economic environment of Ohio by offering products that are designed to leverage and complement other private sector funds, spur development in under-invested neighborhoods, and bring opportunities to marginalized individuals. Without an alternative and supportive lending Finance Fund product, such transactions would not be financed in the conventional market.
NMTC (2002) - $15,000,000
The Allocatee will utilize its NMTC allocation to provide senior and subordinated debt to qualifying businesses and nonprofit organizations. The organization believes the products developed via the NMTC Program will leverage and compliment other private sector funds, and will be targeted towards projects that could not be financed through conventional means.
Other Community Development Financial Institutions in Ohio
ACEnet Ventures
Athens
AHC Community Development, LLC
Cleveland
Appalachian Development Federal Credit Union
Nelsonville
ASB Community Development Corp
Portsmouth
Cincinnati Development Fund
Cincinnati
Cincinnati New Markets Fund, LLC
Cincinnati
Columbus Compact Corporation
Columbus
Columbus Growth Fund, Inc., The
Columbus
Enterprise Development Corporation
The Plains
National City New Market Fund, Inc.
Cleveland
Neighborhood Capital Corporation
Cleveland
Shorebank Enterprise Group
Cleveland
ShoreBridge Capital
Cleveland
Uptown Consortium, Inc.
Cincinnati
Village Capital Corporation
Cleveland
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